Indonesia Kitchen Appliances Market to Grow at CAGR 16% till 2021
Rising disposable income,
growing number of nuclear families and increasing demand for convenience
cooking to drive Indonesia kitchen appliances market through 2021
According to a TechSci Research
report, “Indonesia Kitchen Appliances Market By Product Segment, Competition Forecast and Opportunities, 2011-2021”, kitchen appliances market in Indonesia
is projected to grow at a CAGR of over 16% during 2016-2021, on account of
rising per capita income, increasing urbanization, growing middle class
population base, changing preferences of consumers and increasing government initiatives
to replace kerosene stoves with LPG gas stoves across households. Urban
population base in the country stood at 134.86 million as of 2014. On the back
of this, Indonesia is emerging as a one of the fastest growing markets for kitchen
appliances in Asia-Pacific. Kitchen appliances market in Indonesia is mainly dominated
by large kitchen appliances such as gas stoves, ovens (built in), hoods, dishwashers, etc., and these segments are expected to continue their dominance through
the forecast period, on account of increasing adoption of such appliances by
young working population and high disposable income levels.
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Rising sales of kitchen appliances in the country
can be attributed to rising internet penetration rates and increasing number of
online retailers that offer a wide range of products. Consumers can easily
compare product specifications,
prices and other features through online channels. Additionally, these channels
have eased the buying process for consumers, as they offer discounts on
different kitchen appliances and trend is expected to continue in the coming
years. Few of the leading players operating in the country’s kitchen appliances
market include Modena, PT
Sharp, Samsung Electronics, Panasonic, etc. Moreover, on account of availability
of better employment opportunities and enhanced standard of living, people are
migrating to Java and Sumatra regions of the country, as these regions house
major financial, commercial and business corporations of Indonesia.
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“Large population base and modest growth in
GDP over the last decade is increasing affordability of modern kitchen
appliances such as hobs (induction cook-tops), electric cookers, microwave
ovens, etc., among consumers, as these offer convenient cooking options at
competitive prices. Indonesia GDP per Capita, PPP stood at USD10,517 in 2014.
Expanding upper and affluent customer base are continuously upgrading their
obsolete kitchen appliances with new, advanced and efficient products. This
presents kitchen appliance manufacturers with numerous lucrative opportunities
in Indonesia.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.
“Indonesia Kitchen Appliances Market By Product Segment, Competition
Forecast and Opportunities, 2011-2021” has
evaluated the future growth potential of Indonesia kitchen appliances market
and provides statistics and information on market structure, size, share and
future growth of the country’s kitchen appliances market. The report intends to
provide cutting-edge market intelligence and help decision makers to take sound
investment evaluation. Besides, the report also identifies and analyzes
emerging trends along with essential drivers, challenges and opportunities
present in Indonesia kitchen appliances market.
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